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AAp
THE Australian dollar is half a US cent lower after the
US central bank failed to announce any new economic
stimulus measures.
This morning, the local unit was at 104.59 US cents,
down from 105.04 cents yesterday.
After its two-day policy meeting, the Fed issued a
statement, on Wednesday (US time), that said US
economic growth would continue to be moderate but
didn’t announce any action to simulate it.
“Economic activity decelerated somewhat over the
first half of this year,” the Fed said at the conclusion of
a two-day top-level meeting as it left current monetary
policies in place.
The interest rate-setting Federal Open Market
Committee said it expected “economic growth to
remain moderate over coming quarters and then to pick
up very gradually.”
“The unemployment rate will decline only slowly.”
But there was no new action to juice the economy.
Instead bank policymakers reiterated their pledge to
leave interest rates close to zero until the end of 2014
and said they stood ready to act.
The Fed has kept interest rates at historic lows, between
zero and 0.25 per cent, since December 2008 in a bid to
spur recovery from the Great Recession.
HiFX senior trader Stuart Ive said the announcement
from the Federal Open Markets... READ MORE
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The Baker Young Morning Report is being
prepared now. Check this page later for today’s
most up to date market information.
SOFT business conditions and uncertainty about
the Olympic Dam project have resulted in slowing
demand for office space in the CBD.
The Property Council’s Office Market Report shows the
combined vacancy rate for the city and fringe areas
declining slightly from 7.8 to 7.7 per cent.
“ While these results are effectively neutral, they
clearly show that there is little... READ MORE
Rashida Yosufzai : AAp
WITH online retailing, it’s now a case of the quick and
the dead. Early adapters that jumped on the internet
bandwagon ahead of the rest have reported revenue
growth over the past year, but those... READ MORE
Adelaide office market steady
Online retail sales grow
Dollar down as US
Fed hold stimulus
thurs.2.aug.2012 Sponsored by